Illovo bid for Tongaat assets hits legal snag
ABF wrote to Tongaat Hulett's business rescue practitioners to express an interest in bidding for the troubled company's Mozambican assets for cash.
15 October 2023 - 06:34
Illovo Sugar’s owner, Associated British Foods (ABF), has been taken to court by its business partner in Mozambique, Maragra, which has accused the UK-based group of mismanaging their sugar joint venture.
This comes after ABF wrote to Tongaat Hulett's business rescue practitioners (BRPs) to express an interest in bidding for the troubled company's Mozambican assets for cash. ..
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